ATLANTA, Nov. 14 /PRNewswire/ -- Preferred Networks, Inc. (Nasdaq: PFNT)
(PNI), a wireless carrier's carrier and one of the largest wholesalers of
paging networks, today announced it has signed an agreement to acquire Texas-
based EPS Wireless, Inc., (EPS) for approximately $5 million ($4.5 million of
which will be payable in PNI common stock), subject to certain adjustments,
and possible additional consideration of up to an additional $5 million in
cash based on EPS's achievement of targeted operating performance objectives
through December 31, 1998.  EPS will operate as a wholly owned subsidiary of
PNI.  The acquisition is subject to various conditions, including approval of
the stockholders of EPS, and is scheduled to close in November 1996.
    EPS Wireless, Inc., is a national provider of paging and cellular product
repair services.  EPS also offers product sourcing and sales for new and
refurbished paging products, inventory management, and product fulfillment.
EPS presently processes more than 70,000 product units per month.  The company
has approximately 190 employees and its operations are housed in a
50,000-square-foot building in Dallas.
    "EPS will provide us with a valuable expansion of our platform and is an
important step in our goal to become a full service carrier's carrier to the
wireless industry.  By adding a national equipment repair/sales/fullfillment
center to our growing wholesale paging networks and through the recent
addition of our technical services business, Preferred Networks is positioned
to meet more of our customers' needs," stated Mark H. Dunaway, PNI's Chairman
and CEO.  "Acquiring EPS will move our company to a new level in our evolution
as a provider of oursourced services to the wireless industry."
    PNI is a wholesale provider of high-quality, reliable one-way paging
network services in the U.S.  At June 30, 1996, the Company had more than
200,000 units active on its networks or under agency agreement in its
16 operational markets.  As a carrier's carrier, PNI markets its networks to
resellers of paging services and to paging carriers.  PNI's strategy is
complemented by its centralized network architecture and use of a low-cost,
high-power paging frequency for which it is licensed nationwide.  Network
construction is underway in 18 new markets as part of PNI's expansion
strategy, 14 of which are among the top 50 U.S. metropolitan markets.

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